Tesla Inc. (TSLA) Elliott Wave Analysis: A Detailed Technical Outlook

This Elliott Wave analysis for Tesla (TSLA) examines both the daily and 1-hour charts, utilizing Elliott Wave Theory to outline potential market movements.

Tesla Inc. (TSLA) Elliott Wave Analysis – Trading Lounge Daily Chart Analysis

TSLA Elliott Wave Technical Analysis

Function: Trend

Mode: Impulsive

Structure: Motive

Position: Minor wave 3

Direction: Upside in 3 of (1)

Details:
Following the prolonged consolidation in Primary wave 4, Tesla (TSLA) is poised for an upside thrust as part of Minor wave 3. The price target is set at the Medium Level of $400, signaling strong momentum typical of the third wave in an impulsive structure.

Daily Chart Overview

Tesla's current Minor wave 3 marks a significant upside move in the broader Primary wave 5 following the resolution of Primary wave 4's triangle pattern. The Medium Level at $400 remains a key target, supported by strong momentum typical of motive structures.

Tesla-Inc-1d-stock-c...


Tesla Inc. (TSLA) Elliott Wave Analysis – Trading Lounge 1H Chart Analysis

TSLA Elliott Wave Technical Analysis

Function: Trend

Mode: Impulsive

Structure: Motive

Position: Wave {v} of 3

Direction: Upside in wave {v}

Details:
Tesla has established support at the top of the parallel channel, strengthening its bullish outlook in wave {v} of 3. Potential price targets include:

  • 0.618 of {v} vs. {i}, aligning with 1.618 of wave 3 vs. 1 near $390.
  • If the wave extends, equality of {v} vs. {i} projects the next resistance at $433.

1-Hour Chart Overview

On the 1-hour timeframe, Tesla has found support along the parallel channel, paving the way for a continuation of wave {v} of 3. Price levels to watch include:

  • $390, where 0.618 of {v} vs. {i} aligns with 1.618 of wave 3 vs. 1.
  • $433, marking the equality level of {v} vs. {i}.

Technical Analyst: Alessio Barretta

Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here 

See Previous: Visa Inc. (V) Elliott Wave Technical Analysis

VALUE Offer - Buy 1 Month & Get 3 Months!Click here

Access 7 Analysts Over 200 Markets Covered. Chat Room With Support

Tesla-Inc-1h-stock-c...

Related

ASX WESTPAC BANKING CORPORATION Elliott Wave Analysis: WBC Stock Forecast, Trend Insights, Technical Analysis & Market Outlook

ASX WESTPAC BANKING CORPORATION Elliott Wave Analysis: WBC Stock Forecast, Trend Insights, Technical Analysis & Market Outlook

Our ASX WBC Elliott Wave analysis highlights Westpac Banking Corporation’s stock trends and potenti...

Read More >
The Walt Disney Co. (DIS) U.S. Stocks Elliott Wave Technical Analysis : DIS Approaching Wave (5) of C at $128 Resistance

The Walt Disney Co. (DIS) U.S. Stocks Elliott Wave Technical Analysis : DIS Approaching Wave (5) of C at $128 Resistance

Detailed Elliott Wave analysis on DIS shows a near-complete Wave (5) of corrective Wave C on the dai...

Read More >
Soybean Commodity Elliott Wave Technical Analysis: Market Forecast, Price Predictions, and Key Technical Insights

Soybean Commodity Elliott Wave Technical Analysis: Market Forecast, Price Predictions, and Key Technical Insights

This article provides an in-depth Elliott Wave analysis of the soybean market, highlighting key pric...

Read More >
Spot Opportunities in the Emerging Crypto Market using Advanced Chart Analysis: Bitcoin (BTCUSD) Elliott Wave Analysis

Spot Opportunities in the Emerging Crypto Market using Advanced Chart Analysis: Bitcoin (BTCUSD) Elliott Wave Analysis

In this analysis, we explore Bitcoin’s price movement through Elliott Wave theory, offering insight...

Read More >
Deciphering BTCUSD Trends: A Comprehensive Bitcoin/ U.S. Dollar (BTCUSD) Elliott Wave technical Analysis

Deciphering BTCUSD Trends: A Comprehensive Bitcoin/ U.S. Dollar (BTCUSD) Elliott Wave technical Analysis

Latest insights on BTCUSD trends with our comprehensive Bitcoin/ U.S. Dollar (BTCUSD) Elliott Wave A...

Read More >
Mastering U.S.Dollar/Japanese Yen (USDJPY) Elliott Wave Analysis: Unveils Key Insights and Trading Strategies

Mastering U.S.Dollar/Japanese Yen (USDJPY) Elliott Wave Analysis: Unveils Key Insights and Trading Strategies

Our USDJPY Elliott Wave Analysis provides traders with invaluable insights for navigating the forex ...

Read More >

$1 for 2 Weeks

then $29 a month!

What a Special Offer!

Trade Recommendations

Unleash the power of deversified trading with our comprehensive portfolio, covering 250+ markets:

  • Stock Trades
  • Crypto Trades
  • Forex Trades
  • Commodity Trades
Elliott Wave Analysis

Gain a competitive edge with expert insights and AI-powered Elliott Wave charting into:

  • Global Indices
  • US Stocks & ASX Stocks
  • Forex & Crypto
  • Commodities
Top-Notch Trading Tools

Equip yourself with the tools of success:

  • Real-time Chat rooms
  • Elliott Wave Algorithm
  • Portfolio tools
  • TradingLevels
  • Screener
  • Trading Game
7 Elliott Wave Analysts

Stay ahead of the market with daily charts and insightful videos
Your secret to strategic trading!

JOIN HERE


Welcome to TradingLounge (ASIC A.R.No. 321187), specialists in trades, trading education and technical analysis, covering stocks, indices, commodities, forex and cryptocurrencies.

When you join TradingLounge you have access to everything we offer, including trade tools, educational content and a social platform to chat with like-minded investors.

Read more

@Copyright 2024 by tradinglounge.com

Contact Us

Australian no: 02 4787 6020

International no: +61 (2) 47876020

Pay with:

Find us on